Provision of loans to its members is the main business of RUSHERE SACCO and it is what is demanded most by its members. Since its inception RUSSO’s operations, a market research was done.
This region has no reliable transport means and this product is offered to help members with quick means of transport. The SACCO buys the vehicles after the member has completed all necessary procedures. The minimum loan is 2,500.000/= while the maximum is 50.000.000=, for a period of 6 to 12 months. The interest rate e is 3% per month on reducing balance basis.
A client has to buy 10 shares only.
A client pays 40% of the total cost of a motorcycle and the institution pays the top up.
A client pays for the money we gave in as a top up.
no grace period is given on this product.